If you are wanting to boost your portfolio with some big returns, then it could be worth considering the ASX All Ords stock in this article.
That's because Bell Potter believes it could deliver outsized returns for investors between now and this time next year.
Which ASX All Ords stock?
The stock in question is Select Harvests Ltd (ASX: SHV).
It is an integrated grower, processor, and marketer of almonds owning and operating farming and processing assets in Australia.
The broker notes that the ASX All Ords stock operates a diversified portfolio of almond orchards as well as start of the art processing facility in Carina, Victoria, with capacity to process 50,000t of almonds.
It released its FY 2025 results this week and delivered a result largely in line with expectations. The broker explains:
Revenue of $398.3m was up +18% YOY (vs. BPe $309.8m). Operating EBITDA of $76.5m was up +63% YOY (and vs. BPe of $78.0m). An operating NPAT of $27.8m compares to $2.3m in FY24 (and vs. BPe of $27.3m). FY25 results are predicated on a crop of 24,903t (vs. BPe of 24,700t and FY25e guidance of 24,700t) and an almond price assumption of A$10.18/kg (vs. BPe of A$10.17/kg and FY25e guidance at A$10.14-20/kg). Headline NPAT of $31.8m includes a $5.8m pretax gain on sale of water rights (which occurred in 1H25).
And while there was no real guidance for FY 2026, it believes the stage is set for a strong performance. It adds:
here is no formal guidance. Qualitative comments include: (1) Normal but quick bloom, with no frost damage. Harvest likely later than usual due to cooler weather season to date; (2) Favourable almond price backdrop through FY26e (we have spot at ~A$10.90/kg); and (3) some cost headwinds and notably water, bees and electricity (~$20m YOY) with some mitigation through business investment. NPAT changes are +4% in FY26e and +13% in FY27e.
Big potential returns
In light of the above, the broker feels that this ASX All Ords stock is too cheap at 9x forward earnings.
It has put a buy rating and $5.80 price target on its shares, which implies potential upside of 39% for investors over the next 12 months.
In addition, it expects a 1.7% dividend yield in FY 2026 (and 3.6% dividend in FY 2026), which takes the total potential return beyond 40%.
Commenting on its buy recommendation, Bell Potter said:
Our Buy rating is unchanged. FY25 results appeared broadly consistent with our expectations and should benefit in FY26e from improved production volumes and elevated almond prices. While costs are lifting (this was anticipated in our forecasts) and there is the scope for this to be mitigated by cost out initiatives. At spot almond prices we would see SHV trading on a FY26e PE of ~9x, with upside to EPS through delivery of cost out initiatives and securing third party processing volumes.
